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REGISTERED NUMBER: 04606343 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Spectrum Safety Limited

Spectrum Safety Limited (Registered number: 04606343)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Spectrum Safety Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: Mr S Oldacre
Mrs T Oldacre





SECRETARY: Mrs T Oldacre





REGISTERED OFFICE: Unit 11, Hardwick Court
Hardwick View Road
Holmwood
Chesterfield
S42 5SA





REGISTERED NUMBER: 04606343 (England and Wales)





ACCOUNTANTS: Franklins
1 Pinnacle Way
Pride Park
Derby
Derbyshire
DE24 8ZS

Spectrum Safety Limited (Registered number: 04606343)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 552 1,450
Tangible assets 5 102,533 139,995
103,085 141,445

CURRENT ASSETS
Stocks 70,000 67,111
Debtors 6 985,637 954,030
Cash at bank and in hand 979,961 797,212
2,035,598 1,818,353
CREDITORS
Amounts falling due within one year 7 827,041 868,843
NET CURRENT ASSETS 1,208,557 949,510
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,311,642

1,090,955

CREDITORS
Amounts falling due after more than one
year

8

-

(4,737

)

PROVISIONS FOR LIABILITIES (25,634 ) (34,999 )
NET ASSETS 1,286,008 1,051,219

CAPITAL AND RESERVES
Called up share capital 9 206 206
Fair value reserve 10 (1,048 ) (900 )
Retained earnings 1,286,850 1,051,913
SHAREHOLDERS' FUNDS 1,286,008 1,051,219

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Spectrum Safety Limited (Registered number: 04606343)

Balance Sheet - continued
31 July 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2024 and were signed on its behalf by:





Mr S Oldacre - Director


Spectrum Safety Limited (Registered number: 04606343)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Spectrum Safety Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, they are measured as follows:

Website development - measured at cost less accumulated amortisation, evenly over its estimated useful life of four years.

Crypto currency - is revalued to it's market value at the balance sheet date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 12 ) .

Spectrum Safety Limited (Registered number: 04606343)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. INTANGIBLE FIXED ASSETS
Crypto Website
currency development Totals
£    £    £   
COST OR VALUATION
At 1 August 2022 700 6,000 6,700
Revaluations (148 ) - (148 )
At 31 July 2023 552 6,000 6,552
AMORTISATION
At 1 August 2022 - 5,250 5,250
Amortisation for year - 750 750
At 31 July 2023 - 6,000 6,000
NET BOOK VALUE
At 31 July 2023 552 - 552
At 31 July 2022 700 750 1,450

Cost or valuation at 31 July 2023 is represented by:

Crypto Website
currency development Totals
£    £    £   
Valuation in 2023 (1,048 ) - (1,048 )
Cost 1,600 6,000 7,600
552 6,000 6,552

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 10,200 55,224 245,613 41,878 352,915
Disposals - - (15,355 ) - (15,355 )
At 31 July 2023 10,200 55,224 230,258 41,878 337,560
DEPRECIATION
At 1 August 2022 7,320 36,249 133,793 35,558 212,920
Charge for year 1,020 2,847 27,453 4,135 35,455
Eliminated on disposal - - (13,348 ) - (13,348 )
At 31 July 2023 8,340 39,096 147,898 39,693 235,027
NET BOOK VALUE
At 31 July 2023 1,860 16,128 82,360 2,185 102,533
At 31 July 2022 2,880 18,975 111,820 6,320 139,995

Spectrum Safety Limited (Registered number: 04606343)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2022 54,525
Transfer to ownership (23,530 )
At 31 July 2023 30,995
DEPRECIATION
At 1 August 2022 29,645
Charge for year 4,359
Transfer to ownership (16,085 )
At 31 July 2023 17,919
NET BOOK VALUE
At 31 July 2023 13,076
At 31 July 2022 24,880

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 785,093 925,741
Other debtors 100,000 28
Directors' current accounts 73,666 -
Prepayments 26,878 28,261
985,637 954,030

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 4,737 11,832
Trade creditors 608,203 671,594
Tax 119,272 77,728
Social security and other taxes 8,029 7,008
VAT 56,411 64,691
Other creditors 12,742 -
Directors' current accounts - 14,741
Accrued expenses 17,647 21,249
827,041 868,843

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts - 4,737

Spectrum Safety Limited (Registered number: 04606343)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
106 Ordinary £1 106 106
100 Ordinary 'B' non voting £1 100 100
206 206

10. RESERVES
Fair
value
reserve
£   
At 1 August 2022 (900 )
Revaluation (148 )

At 31 July 2023 (1,048 )

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
Mr S Oldacre and Mrs T Oldacre
Balance outstanding at start of year - -
Amounts advanced 287,744 -
Amounts repaid (214,078 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 73,666 -